EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish trend downwards to the next support line at 1.63504 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.65392 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ candle pattern is found. The chart forms ‘Three Outside Up’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65604 |
| Next High | 1.65392 |
| Current Price | 1.65161 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up